NZ Rugby Make 2016 Loss In Anticipation Of 2017 Lions Boost

New Zealand Rugby has revealed they made a post-tax net loss of NZ$7.47 million (£3.96 or €4.7m) for the 2016 financial year. Chief executive Steve Tew was pleased that figure was less than the $9 million loss they had budgeted. The loss was despite increased revenue of 20% on the previous year to NZ161m (£85.3m or $101.4m). Tew said record investment last year was possible because of a healthy balance sheet and took into account the commercial uplift they are set to receive from this year's Lions tour. A strategy of spending money evenly for five years through to the next broadcasting deal in…